The rise and fall of the U.S. mortgage and credit markets : a comprehensive analysis of the market meltdown / James R. Barth [and others].

Includes bibliographical references (pages 479-505) and index.

Overleveraged, from Main Street to Wall Street -- Overview of the Housing and Mortgage Markets -- Housing Units, Mortgage Debt, and Household Wealth -- Types of Home Mortgages -- Two Housing Finance Models: Originate-to-Hold vs. Originate-to-Distribute -- Low Interest Rates Contribute to Credit Boom and Record Homeownership Rates -- Mortgage Originations, Home Prices, and Sales Skyrocket -- Buildup and Meltdown of the Mortgage and Credit Markets -- What Is a Subprime Mortgage and Who Is a Subprime Borrower? -- Subprime Lending Grows Rapidly and New Products Gain Acceptance -- Subprime Mortgages Enable More Widespread Homeownership -- Securitization Facilitates the Funding of Subprime Mortgages -- The Housing Bubble Reaches the Breaking Point -- The Collapse Begins -- When Will the Crisis End? -- What Is the Damage Scorecard to Date? -- The Pain Spreads throughout the Financial Sector and Beyond -- When Will We Hit Bottom? -- What Went Wrong ...? -- ... with Origination Practices and New Financial Products? -- ... with Securitization and Rating Agencies? -- ... with Leverage and Accounting Practices? -- ... with Fannie Mae and Freddie Mac? -- ... with Tax Benefits for Homeownership? -- ... with Regulation and Supervision? -- ... with the Greed Factor? -- Assessing the Role of Various Factors to Explain Foreclosures -- So Far, Only Piecemeal Fixes -- The Landscape Shifts for Lenders -- The Federal Reserve Intervenes to Provide Liquidity and Higher-Quality Collateral -- Congress and the White House Take Steps to Contain the Damage -- The FDIC Takes Steps to Instill Greater Confidence in Depository Institutions -- The Government's Actions Drive up the Deficit -- Where Should We Go from Here? -- Key Factors That Should Drive Reform -- Issues for Policymakers -- Concluding Thoughts.

The mortgage meltdown: what went wrong and how do we fix it?. Owning a home can bestow a sense of security and independence. But today, in a cruel twist, many Americans now regard their homes as a source of worry and dashed expectations. How did everything go haywire? And what can we do about it now?. In The Rise and Fall of the U.S. Mortgage and Credit Markets, renowned finance expert James Barth offers a comprehensive examination of the mortgage meltdown. Together with a team of economists at the Milken Institute, he explores the shock waves that have rippled through the entire financial sec.

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